Dear traders,
Here is a scenario for Bitcoin. It is an idea how it could go and I also do not expect this Bull marker is finished yet. Right now traders are getting shaken out of the tree with leverage and positions that are too high. Traders who got in too high and are still sitting with positions. Traders who did not use stops for example and are now forced to be LT holders which is on itself not even so bad. The buy and Hold of BTC is probably the best strategy there is.
Also due the limited quantity of Bitcoins it is called not for nothing "Digital Gold".
The Crypto season runs normall until the end of 2021 but nothing is impossible of course. The MACD is in a bad position on a weekly basis but indicators always lag price. How can you tell? Well test only the MACD on Bitcoin. You don't get good results over the full length as with no indicator. You can adjust them to fit the price but it is still calculated on historical prices. Make no mistake, indicators are super but as a tool not to base your trades on alone.
Personally I only get fully bearish when Bitcoin closes on the 33500 USD and that with a convincing daily candle. So not intraday a wick. Until then, I am assuming a rise until the end of the year.
Here you see the 2 hour chart with the scenario as I think it could go. No guarantee but purely my analysis and experience. If you want to go long on Bitcoin put the stop at 33400 or use one below the triangle but plenty! First target 42000. It then depends if Bitcoin breaks through or falls back. That can only be said at that time based on the price movement.
Good luck and above all trade with stops and money management!
Disclaimer Traders this is my view, no advice to buy or sell. Also always do your own research!
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